Income to Afford a $15,000 House

How much do you need to make to be able to afford a house that costs $15,000?
Purchase Price
$
Down Payment
$
Interest Rate
%
Term of Loan
Pct. of Income
(for Housing)
%
To afford a house that costs $15,000 with a down payment of $3,000, you'd need to earn $2,238 per year before tax.
The monthly mortgage payment would be $52.

Salary needed for 15,000 dollar mortgage.

This page will calculate how much you need to earn to buy a house that costs $15,000. It assumes a fixed-rate mortgage.

A good rule of thumb is to spend no more than 28% of your pre-tax income on your mortgage payment.

What is the income needed to buy a $15,000 house?
Down Payment 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50%
$0 $2,540 $2,624 $2,710 $2,798 $2,887 $2,977 $3,069 $3,162 $3,257
$750 $2,413 $2,493 $2,575 $2,658 $2,742 $2,828 $2,916 $3,004 $3,094
$1,500 $2,286 $2,362 $2,439 $2,518 $2,598 $2,679 $2,762 $2,846 $2,932
$2,250 $2,159 $2,231 $2,304 $2,378 $2,454 $2,531 $2,609 $2,688 $2,769
$3,000 $2,032 $2,100 $2,168 $2,238 $2,309 $2,382 $2,455 $2,530 $2,606
$3,750 $1,905 $1,968 $2,033 $2,098 $2,165 $2,233 $2,302 $2,372 $2,443
$4,500 $1,778 $1,837 $1,897 $1,958 $2,021 $2,084 $2,148 $2,214 $2,280
$5,250 $1,651 $1,706 $1,762 $1,819 $1,876 $1,935 $1,995 $2,056 $2,117
$6,000 $1,524 $1,575 $1,626 $1,679 $1,732 $1,786 $1,841 $1,897 $1,954
$6,750 $1,397 $1,443 $1,491 $1,539 $1,588 $1,637 $1,688 $1,739 $1,791
$7,500 $1,270 $1,312 $1,355 $1,399 $1,443 $1,489 $1,535 $1,581 $1,629
Average Home Price by State
Source: Zillow.com, December 2020
State Price
Hawaii$673,344
California$617,633
Massachusetts$470,610
Washington$463,856
Colorado$436,751
Oregon$397,363
Utah$395,205
New Jersey$372,870
New York$346,973
Idaho$339,238
Maryland$338,169
Rhode Island$337,100
Nevada$329,465
New Hampshire$326,908
Montana$320,351
Arizona$309,122
Virginia$305,509
Alaska$300,283
Connecticut$285,853
Delaware$281,923
Minnesota$279,516
Vermont$275,472
Maine$272,886
Florida$267,296
Wyoming$261,262
North Dakota$238,112
New Mexico$226,941
South Dakota$224,126
North Carolina$222,909
Texas$222,237
Georgia$221,471
Illinois$218,622
Pennsylvania$213,499
Wisconsin$211,598
Tennessee$205,068
South Carolina$204,967
Nebraska$190,827
Michigan$190,052
Missouri$178,656
Louisiana$178,041
Indiana$171,240
Ohio$166,358
Kansas$166,254
Kentucky$158,685
Iowa$158,239
Alabama$157,366
Arkansas$141,095
Oklahoma$140,511
Mississippi$133,213
West Virginia$113,124